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Surprise, Arizona homes for Sale – Marley Park (Details of Home Buyer Tax Credit Extension)

By
Real Estate Agent with Keller Williams Realty Professional Partners

Marley Park Community is located in Surprise, Arizona that celebrates the spirit of neighborhood with many parks, sidewalks, tree-lined streets and diverse architectural styles. The welcoming atmosphere encourages community, while the neighbors come together to create it. This neighborhood is about sharing similar feelings about the place you call home.  Marley Park is reminiscent of historic neighborhoods offering timeless architectural styles and varying landscapes.  This community also includes The Heritage Club, a 6,000 square foot private recreational facility for residents and their guests and The Heritage Pool House offers a private facility on over 2 acres of land that features a recreational play pool and lap pool. To add another fine element to this neighborhood, Marley Park Elementary is located in the middle of the community. 

For homes available in the West Valley,  Surprise, Arizona see Buyers.

Details for Home Buyer Tax Credit

$8,000 First-time Home Buyer Tax Credit at a Glance

·         The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.

·         The tax credit does not have to be repaid.

·         The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

·         The tax credit applies only to homes priced at $800,000 or less.

·         The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

·         For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.

·         For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

·         To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.

·         The tax credit does not have to be repaid.

·         The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.

·         The tax credit applies only to homes priced at $800,000 or less.

·         The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010.  However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.

·         Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.